- X Data Table Date Labor Time Record No. Amount 6/30 1896 Description 12 hours at $14 30 hours at $16 $ 168 7/3 1904 $ 480 Materials Date Amount Requisition No. 437 439 6/30 $ 600 Description 60 lbs. rubber at $10 40 meters polyester fabric at $12 100 meters steel cord at $8 $ $ 7/2 $ 480 7/3 501 $ 800 Print Done Great Quality Tire manufactures tires for all-terrain vehicles. Great Quality uses job costing and has a perpetual inventory system. On June 22, Great Quality received an order for 110 TX tires from ATV Corporation at a price of $100 each. The job, assigned number 298, was promised for July 10. After purchasing the materials, Great Quality began production on June 30 and incurred the following direct labor and direct materials costs in completing the order: Click the icon to view the costs.) Great Quality allocates manufacturing overhead to jobs on the basis of the relation between expected overhead costs ($410,000) and expected direct labor hours (20,500). Job 298 was completed on July 3 and shipped to ATV on July 5. Read the requirements Requirement 1. Prepare a job cost record for Job 298 Calculate the predetermined overhead rate, then apply manufacturing overhead to the job. Begin by identifying the formula and computing the predetermined overhead rate. = Predetermined overhead rate per hour Customer Name ATV Corporation Job Description 110 TX tires Date Promised 7-10 Direct Materials Date Completed 7-3 Manufacturing Overhead Allocated Date Started 6-30 Direct Labor Labor Time Record Number Amount Requisition Date Number Amount Date Rate Amount 20XX per direct labor hr. Overall Cost Summary Direct Materials Direct Labor Manufacturing Overhead Allocated Total Job Cost Totals Requirement 2. Calculate the total profit and the per-unit profit for Job 298. (Round your answer to two decimal places.) Job 298 Sales Less: Cost of job Total profit on job Number of tires Per-unit profit Choose from any list or enter any number in the input fields and then continue to the next